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Technical Views On Nasdaq, ASX200 & Gold
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FNArena.com
Technicals | 10:30 AMList StockArray ( )Tony Sycamore, Market Analyst, IG shares his technical views on the Nasdaq, ASX200, gold and crude oil, including technical updates below.
Keep in mind that a Wave V high should then be followed by a corrective pullback.
Providing the ASX200 remains below last week’s 8888 high, we expect the correction which targets the 8600/8580 area to continue.
If this correction plays out as anticipated, it will account for a neat -5% pullback from the 9054.5 record high, at which point fresh longs should be considered.
Crude OilWTI Crude Oil finished higher overnight at US$63.65/bbl, up 2.1% on escalating European geopolitical risks as Ukrainian drones continue to strike Russian oil infrastructure and with exports from Iraq’s Kurdistan region remaining on hold.
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